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Not AvailableObjectives: Use of solar PV (SPV) pumping system for irrigation has recently been increased significantly specially under the national solar mission and these pumps may replace conventional electric or diesel pumps. Methods/Statistical analysis: In this paper, economics of SPV pumping system has been evaluated through life cycle cost (LCC). In LCC analysis, capital cost, future maintenance cost and replacement cost are converted to present worth value considering inflation rate and discount rate during its total life cycle. Annualized life cycle cost (ALCC) of solar PV pumping system has been further compared with conventionally used grid connected electric pumps and diesel pumps. Findings:The analysis revealed that the annualized life cycle cost (ALCC) of PV pumping system is lower than grid connected electric pumps and diesel pumps. For example, the ALCC for a 5 HP capacity SPV pumping system was found ` 56,620, whereas it were ` 60,475 and ` 1,19,664 for grid connected electricity operated pumps and diesel pumps, respectively. It has also been observed that the initial capital cost for solar PV pumping system is higher than grid connected electric pumps and diesel pumps. However, the maintenance cost and replacement cost are lower for PV pumping system. Application/Improvements: Apart from economic advantage, PV pumps have additional benefits of using it for domestic and farm needs. Therefore PV pumping system may be considered as the first choice by farmers.Not Availabl